Arab Finance: Egypt and Mercedes-Benz are probing boosting the latter’s expansion in the Egyptian market, Ministry of Trade and Industry stated on May 16th.
This came during a meeting held between the Minister of Trade and Industry Ahmed Samir and Mercedes-Benz Egypt’s CEO Gerd Bitterlich.
Samir stated that the government is pursuing the localization of Mercedes-Benz’s cars manufacturing in Egypt to meet the demand of the local market, in addition to exporting cars to regional and continental markets.
The move is part of the ministry’s plans to attract foreign investments and localize the automotive industry.